The Global Flexible Foam Market can experience an accentuating growth rate during the forecast period (2017-2023), reports Market Research Future (MRFR) in an elaborate study of the Flexible Foam. Made by crosslinking polymers with blowing agents, these Flexible Foams are perfect for insulation. What’s more, Flexible Foams are also lightweight which gives the product an added advantage over the rest in the same category.
Drivers and Restraints:
The construction sector is playing an integral role in giving the Global Flexible Foam Market an impetus. The expanding population worldwide is fuelling the subsequent needs for lodging resulting in the mushrooming growth of the construction industry. Consequently, it has a galvanizing effect on the rigid polyurethane materials as well.
Packaging industry, along with aviation and automotive industries, is finding a surging craving for lightweight materials that could absorb shock and deliver propitious results. At the same time, Flexible Foams are also proving beneficial for markets such as furniture and interiors owing to a growing number of consumers with disposable income spending much on luxury. Bedding, flooring, and furnishing are things gives the market much-needed traction.
However, a few characteristics can slacken the pace of the market growth by creating a bottleneck situation such as the toxic fume it emits upon getting exposed to heat and stringent government regulations. But it has an ace in the hole; it is easily recyclable which lets it consume minimum energy and opens up wider utility prospects.
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Adopting greenways have become a trend that is getting much traction lately. Flexible Foam Market, for quite some time now, is looking for an environment-friendly alternative as getting choked by government policies is not an option. That is why Bloom has come up with a plant-based performance-driven foam derived from algae biomass. This renewable feedstock can be sourced from lakes and ponds and will reduce the foam market’s dependence on petroleum, a non-renewable resource, that leaves a significant carbon footprint.
The Global Flexible Foam Market can be segmented by Type, Applications and End-User Industry.
By Type, the market includes polyurethane, polypropylene, and polyethylene. Polyurethane Foam is the bellwether of the flexible foam market and is favorite among the customers due to its flexibility, structure, and chemical & heat resistance.
Application-wise the market comprises bedding, furnishing, automotive interiors, packaging, shock absorbers, insulation, and flooring.
Based on End-Users, the market consists furniture & interiors, transport, construction. In recent years, flexible foam extensively forayed into the construction sector and is expected to do so in the foreseeable future with remarkable CAGR.
Geographically, the market covers regions namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA).
The APAC region is all set to register the highest CAGR in the foreseeable future owing to countries such as India, Japan, and China adopting fast-track urbanization. Flexible foam has shown its potential in delivering superior insulation to roofs and walls in new houses. The rise in disposable income has also ushered in huge investments from interior and furniture sectors.
North America leads the pack with the maximum business volume. The demands here are mainly generated by aerospace and automotive sectors. The interior design of cars is also experiencing an unprecedented shift in preference that requires more Flexible Foam. Simultaneously, other end-user industries have apposite setups due to which the market is expanding here so much.
Europe is the third most influential market where again aerospace and automotive sectors are driving the need for Flexible Foam. The U.K., France, Germany, and Italy are outstanding market contributors.
The LATAM, however, is experiencing a contrary state where the business is slowing down owing to terrible government policies that ran the countries into massive financial debts.
The MEA region has promoted themselves well as a tourism hub due to which the hospitality sector is experiencing a sea-change. This has spurred the growth of Flexible Foams in industries such as interior and construction.
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